• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

World Bank cuts Thai GDP growth outlook to 1% this year

September 28, 2021 by David Barret Leave a Comment

September 28, 2021

BANGKOK (Reuters) – Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors, the World Bank said on Tuesday, as the country fights its biggest virus outbreak to date.

Southeast Asia’s second-biggest economy contracted 6.1% last year, its deepest slump in more than two decades, with the crucial tourism sector devastated by the impact of the pandemic.

The economy is now expected to return to its pre-pandemic level in 2023, Kiatipong Ariyapruchya, senior World Bank economist for Thailand, told a virtual briefing.

“The economic recovery to pre-COVID levels will be a year slower than previously expected in 2022,” he said, adding that was based on an assumption that Thailand would reach 70% vaccination rates in the first half of 2022.

After recording 40 million foreign tourists in 2019, Thailand is now expected to receive only 160,000 this year, down from the 600,000 arrivals projected in July, Kiatipong said.

Tourist arrivals are seen at 1.7 million next year, when the economy is forecast to grow 3.6%, he added.

Exports and fiscal measures had provided support in the meantime and the World Bank backed the government’s lifting of the public debt ceiling to help the economy, Kiatipong said.

The World Bank’ 2021 economic outlook compared with growth of 1.3% predicted by the finance ministry and 0.7% by the central bank.

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Ed Davies)

Source Link World Bank cuts Thai GDP growth outlook to 1% this year

David Barret
David Barret

Related posts:

  1. Golf-Sagstrom left on verge of tears after rules row at Solheim Cup
  2. Hundreds of thousands of Indian farmers rally against farm laws
  3. U.S. House panel to probe oil companies over climate disinformation
  4. China, France denounce U.S. nuclear sub pact with Britain, Australia

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • How Is The Black, White, And Secret Third Smoke Made During The Conclave?
  • Can Children Help Each Other Pass The Famous Marshmallow Test?
  • California’s Highest-Altitude Tree Found By Happy Accident At 12,657 Feet
  • Is The Spiny Devil Katydid The Strangest Insect In The World? You Tell Us
  • Yep, You Can Milk A Snake – These Scientists Extract Venom From Some Of The Deadliest Snakes
  • The Last Remaining Soft Tissues Of A Dodo Date To 1683 CE – And Are Still Going Strong
  • This Indigenous Tribe Has Tragically Forgotten How To Dance, Sing Lullabies And Make Fire
  • Nepal’s Snow Leopard Population Is Bigger Than Previously Thought, But Still Mysterious
  • The Amazon’s “Dark Earth” Was Created By Ancient People Thousands Of Years Ago
  • Watch A Gorgeous White Stingaree Swimming Along The Seafloor
  • Starbase City: Elon Musk’s SpaceX Gets Its Own Municipality In Texas, Complete With A Familiar Mayor
  • What Is The Specific Purpose Of These Lines On Towels?
  • Just 0.001 Percent Of The Deep Ocean Has Been Directly Observed
  • First Ever Image Of “Free Floating” Atoms Snapped By MIT Scientists
  • The Haenyeo “Sea Women” Of Korea Have Evolved For A Life Under The Sea
  • Was Alcatraz Inescapable? A Study Suggests A 1962 Jailbreak May Have Been A Success
  • Title Of Ancient Burnt Herculaneum Scroll Identified For First Time In 2,000 Years
  • New Species Of Incredible “Accordion Worm” Can Squish Down To One-Fifth Of Its Original Size
  • New US Bill Asks NASA To Tackle Relativistic Effects On The Moon And Mars
  • Largest Dam Removal Project In The World Triggers Return Of Salmon After Years Of Campaigning
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version